AnnetteB6
Expert Alumni

Retirement tax questions

If you are being asked to enter the FMV for your Traditional IRAs, you would enter the total FMV for all Traditional IRAs even if you did not have a 5498 for all accounts.

 

If you never had any non-deductible contributions to any of your Traditional IRAs, but you are still being asked to provide the total FMV of those accounts, the number you enter will not affect the tax calculation or be reported on Form 8606.

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